Calculators

Avoid Showroom Showdowns

When it comes to car shopping, most of us dread the showdown in the showroom, where you're forced to dicker with a salesperson who seems to hold all the cards. It's not that you want to deny the dealer a fair profit; you just want assurance that you got a fair deal. If you hate to haggle, you're a prime candidate for a car-buying service. Get matched with a dealer. Two of the biggest names in car research offer free buying services, but their prices aren't going to be rock-bottom. For one thing, all offers are presented relative to sticker price, which makes it harder to know how much profit the dealer makes. Savvy buyers compare offers to invoice prices because they don't include the dealer's markup. Edmunds.com, known for its car reviews and pricing advice, debuted Price Promise last year. Edmunds acts as a middleman: Dealers offer you a no-haggle price, but it's up to you to sort through the offers to pick the best one. Click on Price Promise at the top of the home page, then enter the make and model of the car and your zip code. You'll see the number of Price Promise offers in your area, and you'll be able to customize your car and find matching vehicles from dealers near you. To see the price and get a certificate to print out and take to the dealer, you enter your name, phone number and e-mail address. (To see an invoice price, you'll have to go to the main page for each car on Edmunds's site and use the drop-down menu to select the trim level you want.) Each offer is tied to a specific vehicle and its exact equipment, so dealers won't do a bait-and-switch if they don't have the car you chose. TrueCar has a similar setup. Click a make and model on the home page and you'll see the sticker price, average price paid and (in most states) the invoice price--as well as the target price for one trim level (change trims in the "style" box at the top of the page). Click the "next" button to see prices from three dealers in your area. The dealers aren't identified; you have to enter your name, phone number and address to get to the dealer names and certificates with savings guarantees. With TrueCar, the guarantee isn't tied to a specific vehicle in inventory, so a dealer might not have the exact car you're looking for. But the certificate guarantees the savings off sticker price you were promised on any model in stock in the trim you selected. (TrueÂ¬Car also powers the car-buying programs for USAA, AAA, American Express, Consumer Reports and Geico, among others, which may offer additional perks.) Members only. Big-box retailer Costco is more than just 25-pound bags of pretzels. Its vehicle-buying program covers cars, boats, motorcycles and RVs. Costco doesn't show prices online, though. You start the process by selecting the model you want at www.costcoauto.com and sending your info to the dealer that works with your local warehouse (each brand gets only one affiliated dealer). The benefit of that exclusivity is lower prices: Costco claims an average savings of $1,000 off the average transaction price, as measured by third-party sites such as Edmunds and Kelley Blue Book. Hire the pros. The best way to guarantee savings is to hire professional negotiators. CarBargains, the buying service of the nonprofit Consumers' Checkbook organization, charges $250 to shop for your vehicle at five or more local dealers. You get a report with all the prices CarÂ¬Bargains has locked in (typically at or below invoice), and you decide where to buy. The key to its success is introducing competition among the dealers it works with. And each bid, including options, is reported relative to invoice price. Copyright 2014 The Kiplinger Washington Editors

Best Cars for Families

Best Cars for Families By Jessica L. Anderson, Associate Editor April ‎06, ‎2014

The words "safety first" may seem cliché but safety is the top factor we consider when we compile our list of family-friendly vehicles. Our picks must get high scores in our annual rankings for overall value, performance and safety (see our story Let's Make a Deal: Best New Car Values, 2014), plus they must earn a Top Safety Pick from the Insurance Institute for Highway Safety. They also have to offer either a forward-collision warning system or a rearview camera as optional equipment (see our story How to Buy a Safe Car).

Sedans. The Kia Optima (starting at $22,300) offers some of the highest resale values in its class and a superior blend of power and fuel efficiency, whether you pick the 192-horsepower base engine, which delivers 34 miles per gallon on the highway, or the 274-horse turbocharged model (my fave), which gets 31 mpg highway. The Optima has a rearview camera that's available on every trim level, and its trunk has 15 cubic feet of cargo space.

The Ford Fusion ($22,795) has sporty driving dynamics, a spacious interior and 16 cubic feet of cargo space. A collision warning system is available on most models, and other options include rear inflatable seat belts (designed to soften the impact of a crash by spreading it over a larger portion of the torso), lane-departure warning with a "lane keeping" system, blind-spot warning with cross-traffic alert (which warns you of approaching vehicles as you're backing up), and automatic high beams. The base model gets 34 mpg on the highway and won a Best in Class award in our rankings.

Crossovers. With the drivability of a sporty sedan and 34 cubic feet of cargo space, the Mazda CX-5 ($22,225) is ideal for families with a couple of kids. Choices abound. Pick the base 2.0-liter engine (with 155 hp) or the new 2.5-liter (184 hp), and front- or all-wheel drive. The base model with manual transmission gets 35 mpg on the highway. Adaptive headlights and low-speed forward-collision warning are optional. The CX-5 won Best in Class for Small Crossovers in our rankings.

Redesigned for 2014, the all-wheel-drive Subaru Forester ($22,820) won Best New Small Crossover. It's slightly larger than the previous generation, giving it more legroom and a bump up in cargo space--34 cubic feet behind the second row. New features include anti-whiplash front seats, a driver's knee airbag and an optional collision warning system. The base model gets 29 mpg on the highway.

Also redesigned this year is the Toyota Highlander. It's available with a four- or six-cylinder engine with front-wheel drive (starting at $30,075), or with a six-cylinder engine with all-wheel drive ($32,705). The front-drive models get 25 mpg on the highway; the AWD model gets 24 mpg. Seating for eight is standard (second-row captain's chairs are an option), as is a rearview camera and eight airbags. A collision warning system and a lane-departure alert are optional. You get 42 cubic feet of cargo space behind the second row with the third row folded flat.

Minivans. Our Best in Class Minivan, the Honda Odyssey ($29,655), gets the best fuel economy in its class (28 mpg on the highway). It also has the most cargo space (93 cubic feet behind the second row with the third-row seats folded flat) and a standard rearview camera. It's the only Top Safety Pick of the minivan brood, and it has an available collision warning system. Spring for the top-of-the-line Touring Elite model ($45,280) and you get an integrated vacuum for cleaning up messes on the go.

See our complete list of the top ten vehicles for families here.

Copyright 2014 The Kiplinger Washington Editors

Details and Disclosures

Rates and offers current as of March 21, 2015 - March 31, 2015 and are subject to change.

*Annual Percentage Rate. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Rates quoted assume excellent borrower credit history. Not all applicants will qualify for the lowest rate.

New Auto Loans: Loan rate applicable to new vehicles only. New vehicles are where you are the original owner and the vehicle is a current (2015) or prior model year (2014). Up to 110% financing is available. Weight restrictions apply. Minimum loan amount $20,000 for 61-72 month term. In order to refinance an existing PenFed auto loan, the current rate must be equal to or greater than the rate on your existing PenFed auto loan. Rate depends on term. Other restrictions including vehicle and mileage limitations may apply. “Smart” Car Collateral Restrictions: Financing available up to 110% of the Manufacturer's Suggested Retail Price (MSRP) including tags, title, taxes and extended warranties. Some restrictions apply. Financing is not available with a Payment Saver Loan for “Smart” cars, Trucks (including hybrids), and SUVs (including hybrids).

Rates as low as 1.49% APR apply to new vehicle loan amounts up to $100,000 financed for 12-36 months. Rates as low as 1.99% APR apply to new vehicle loan amounts up to $100,000 financed 37-48 months. Rates as low as 2.24% APR applies to new vehicle loan amounts up to $100,000 financed for 49-60 months. Rates as low as 2.74% APR apply to new vehicle loan amounts finance for 61-72 months.

Used Auto Loans: Maximum used car loan advance will be determined by PenFed using a NADA value. Financing is available up to NADA average retail value plus tags, title, taxes and extended warranties not to exceed 110%. Some restrictions apply. In order to refinance an existing PenFed auto loan, the current rate must be equal to or greater than the rate on your existing PenFed auto loan. Call 800-247-5626 for details.

Rates as low as 1.99% APR apply to used vehicle loan amounts up to $100,000 financed for 12-36 months. Rates as low as 2.49% APR apply to used vehicle loan amounts up to $100,000 financed for 37-48 months. Rates as low as 2.99% APR apply to used vehicle loan amounts up to $100,000 financed for 49-60 months. Rates as low as 3.49% APR apply to used vehicle loan amounts finance for 61-72 months. Financing for 61-72 months would be limited to the current (2015) and prior two model years (2014 & 2013). Rate depends on term. Other restrictions including vehicle and mileage limitations may apply.

Refinance Auto Loans: New vehicles are where you are the original owner and the vehicle is a current (2015) and prior model year (2014). For used vehicles, maximum used car loan advance will be determined by PenFed using a NADA value. Up to 100% financing is available to qualified members. In order to refinance an existing PenFed auto loan, the current rate must be equal to or greater than the rate on your existing PenFed auto loan.

“Smart” Car Collateral Restrictions: Total financing is limited to 100% of the value and loan terms cannot exceed 60 months. Financing is not available with a Payment Saver Loan for “Smart” cars, Trucks (including hybrids), and SUVs (including hybrids).

Rates as low as 1.49% APR apply to new vehicle loan amounts up to $100,000 financed for 12-36 months. Rates as low as 1.99% APR apply to new vehicle loan amounts up to $100,000 financed for 37-48 months. Rates as low as 2.24% APR apply to new vehicle loan amounts up to $100,000 financed for 49-60 months. Rate depends on term. Other restrictions including vehicle and mileage limitations may apply.

Payment Saver Auto Loans:

How It Works

With Payment Saver Auto Loans, you will be able to make a lower payment than what the conventional auto loan would offer, yet at a higher interest rate. Then, at the end of the loan, you will owe the remaining balance of the loan itself. At this juncture, you may choose to pay off the loan or sell, trade, or refinance the vehicle.

Your Payment Saver Auto Loan payment is calculated based on the loan term, the amount you have requested, and the residual value of the vehicle. The residual is the expected value of your vehicle at the end of your loan term.

The difference between your loan amount requested and the residual value is amortized over the loan term, resulting in a low monthly payment without the danger of your becoming upside-down in the loan.

**Not a guarantee to refinance. Refinancing subject to Pentagon Federal current creditworthiness standards.

The residual value of the vehicle after the loan term is an estimation. We cannot guarantee this value. The residual value is subject to current used car market conditions and depends on a number of factors including, but not limited to, the mileage the car has been driven and the condition of the car at the end of the loan term.

Trucks, Vans, Crossover Vehicles, Smart cars and SUVs are not eligible as Payment Saver Loan vehicle types. This restriction includes hybrid trucks and SUVs as well.

Pre-approved drafts no longer available for Payment Saver loans.

NEW VEHICLES: Never titled; Current (2015) and prior model year (2014).

USED VEHICLES: Current (2015) and prior two model years (2014 & 2013).

The vehicle mileage may not exceed 15,000 miles per year based on the model year.

Used car loan value based on NADA Retail Value. Other restrictions may apply. Call 800-247-5626 for details.

Loan Payment Example: A $27,000 new auto financed at 2.49% APR; 60 monthly payments of approximately $379.00 each, with a final balloon payment of approximately $6,729.00.

This credit union is federally insured by the National Credit Union Administration. Rates are current as of March 2015 unless otherwise noted and are subject to change. APY = Annual Percentage Yield APR = Annual Percentage Rate

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* In states other than Florida, Michigan, and Texas, the maximum owner occupied CLTV (combined loan to value) for a PenFed Home Equity Loan is 85%, non-owner occupied is 75%. In Florida and Michigan, the maximum owner occupied CLTV is 70%. In Texas, the maximum owner occupied CLTV allowed is 80% and non-owner occupied is CLTV 75%. Additional restrictions apply in Texas, so please ask a representative for details. The maximum CLTV on condominiums in all states is 70%.